BREAKING: Toncoin (TON) Partnership Announcement Denied by the United Arab Emirates – TON Price Drops

According to breaking news, the news that Toncoin (TON) investors were granted a “golden visa” in the United Arab Emirates (UAE) was denied by official authorities.

The Federal Agency for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA) and the Virtual Assets Regulation Authority (VARA) made a joint statement, stating that these claims circulating on some websites and social media platforms do not reflect the truth.

Following the development, there was a sudden drop in the TON price:

Graph showing the decline in the TON price.

The ICP statement said that golden visas are only granted within the framework of officially approved criteria, and that these criteria do not include digital currency investments. Eligible categories include real estate investors, entrepreneurs, exceptional talents, scientists and experts, successful students and graduates, humanitarian aid pioneers and frontline workers during the pandemic.

The Securities and Commodities Authority (SCA) also said in a statement that the UAE adheres to international standards in financial sector regulation and prioritizes transparency and investor confidence. The SCA noted that digital asset investments are subject to specific regulations and have no direct connection to the golden visa program. Investors are also urged to seek information only from official sources to avoid misinformation and scams.

The Dubai-based Virtual Assets Regulatory Authority (VARA) also categorically denied claims that digital asset investors were given golden visas. VARA strongly recommended that investors only transact with fully licensed and regulated companies. The statement emphasized that consumer protection is a priority in services and investments related to virtual assets. VARA also stated that the company named “TON” is not licensed or regulated by the institution.